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Showing posts from February, 2022

CII releases member consultation findings

The organisation had 1,149 responses via its online consultation and held 62 events. from Insurer - insuranceage.co.uk https://ift.tt/f1hluZi

FCA dual pricing rules drive biggest monthly premium jump in eight years, says Consumer Intelligence

Average premiums for home insurance rose 9.1% in January while motor was up 4.9%, according to the specialists. from Insurer - insuranceage.co.uk https://ift.tt/1V4fmSv

EV charging product launched

Recharge Rescue has developed a product, which can be sold via brokers, to help EV drivers if they run out of power. from Insurer - insuranceage.co.uk https://ift.tt/UhwFPyQ

Modellers put Storms Dudley and Eunice losses at up to £4.1bn (€5bn)

RMS estimates top figure of £3.7bn (€4.5bn) with the UK accounting for around 15% of the total. from Insurer - insuranceage.co.uk https://ift.tt/SYEjlRV

"Delight” for Wolseley-owner as Axa loses BI case

The insurer said it would give the judgment “careful consideration”. from Insurer - insuranceage.co.uk https://ift.tt/QykbFE0

Analysis: How do brokers feel about a four-day week?

Industry experts highlighted the benefits and challenges of a four-day week in the insurance space. from Insurer - insuranceage.co.uk https://ift.tt/ws9BOnf

Polaris imarket policy count ticks up to 490,000 for 2021

The organisation said the use of imarket to place commercial lines business was at an “all time high”. from Insurer - insuranceage.co.uk https://ift.tt/k5EvXZA

Ageas investing in digital to win with brokers, says Middle

The provider has teamed up with EIS, Amazon Web Services and Willis Towers Watson on a range of initiatives. from Insurer - insuranceage.co.uk https://ift.tt/xIdnzKB

MGA evolution can support broker independence, says Pro Global’s Danny Maleary

MGA leader assesses opportunities for brokers, changes in capital providers backing risks, market consolidation and the sector’s expansion. from Insurer - insuranceage.co.uk https://ift.tt/SMymBL0

Nexus rebrands as Kentro

Nexus Underwriting, an independent specialty managing general agent (MGA) in the London market, and Xenia Broking, a insurance and surety distribution specialist, will operate as distinct, independent brands under the Kentro holding company. from Insurer - insuranceage.co.uk https://ift.tt/TvOfoRS

Profits up at Ageas UK but income and COR slip in 2021

Insurer saw growth in home business but motor gross written premium fell to £676.5m. from Insurer - insuranceage.co.uk https://ift.tt/HWfDMNj

Industry pulls together to mitigate flood risk

The British Insurance Brokers’ Association, the Association of British Insurers, and Flood Re have launched a Flood Insurance Directory to help customers access flood cover. from Insurer - insuranceage.co.uk https://ift.tt/A5KlZBw

ABI pledges to double apprenticeships by 2025

The organisation has committed to offering 2,500 apprenticeships over the next three years and increasing inclusivity across the sector. from Insurer - insuranceage.co.uk https://ift.tt/Ipc50zZ

Aviva confirms London HQ office search

Provider commits to staying in the heart of the City. from Insurer - insuranceage.co.uk https://ift.tt/ZyumWGk

MGA Lares launches unoccupied property product

The product is available to brokers via the Go-Insur digital insurance platform. from Insurer - insuranceage.co.uk https://ift.tt/YiTu0St

QBE International improves COR to 90.6%

The insurer’s international division, which includes the UK, posted a 15% increase in gross written premium for the full year 2021. from Insurer - insuranceage.co.uk https://ift.tt/oywOurx

M&A activity not 'sustainable', says IMAS founder Loughton-Scott

Prices are forecast to remain "pretty firm" this year. from Insurer - insuranceage.co.uk https://ift.tt/srHCGD0

Allianz focused on growth in 2022, says Holmes

Insurer posted a 9.4% rise in operating profit to £318m for 2021 but recorded a 3.2% fall in gross written premium to £3.8bn. from Insurer - insuranceage.co.uk https://ift.tt/LPnI2O6

Axa launches EV fleet product

The insurer cited an increase in electric vehicle sales and the ability to offer a greener fleet option to businesses among the reasons for the move. from Insurer - insuranceage.co.uk https://ift.tt/50m2r7w

Allianz posts improved operating profit for 2021 but GWP slips

The provider reported a 3.2% decrease in GWP to £3.8bn. from Insurer - insuranceage.co.uk https://ift.tt/Ki2Jzlu

Insurer payments for settled BI claims top £1bn

Providers have made an additional £307.9m in initial payments, according to the latest figures from the Financial Conduct Authority which is set to end its data releases next month. from Insurer - insuranceage.co.uk https://ift.tt/lWqSk0t

Analysis: Balancing risk and opportunity in the metaverse

Insurance Age spoke to industry experts to find out how the metaverse is changing the risk landscape and what opportunities it offers brokers and insurers alike. from Insurer - insuranceage.co.uk https://ift.tt/Z4HzmnB

Brit turns loss to profit in latest results

The provider also reported a 32% increase in GWP, going from $2.4bn (£1.87bn) in 2020 to $3.2bn (£2.4bn) for the year ended 31 December 2021. from Insurer - insuranceage.co.uk https://ift.tt/pc2nmWF

Beazley reports "robust" profit in 2021 results

The provider turned a $50.4m (£37.1m) into a pre-tax profit of $369.2m (£272.1m) for the year ended 31 December 2021 while also seeing its GWP shoot up by 30%. from Insurer - insuranceage.co.uk https://ift.tt/wRz75ro

Zurich UK reports £470m operating profit

The provider reported that the UK business grew 13% in its P&C division. from Insurer - insuranceage.co.uk https://ift.tt/wsKxd6p

People moves: 7-11 February 2022

Keep up to date with the latest moves from the insurance space. from Insurer - insuranceage.co.uk https://ift.tt/6xYC7IQ

Blog: The key to rebuilding trust

Ecclesiastical’s Adrian Saunders considers how the insurance industry can win back customer faith. from Insurer - insuranceage.co.uk https://ift.tt/HkBdbXm

Axa UK in broker push as it commits to becoming more accessible

Distribution and trading director, Sarah Mallaby, tells Insurance Age about her move from Allianz to Axa and discusses the provider's plans going forward as she highlights the importance of re-establishing relationships with brokers. from Insurer - insuranceage.co.uk https://ift.tt/cbiHXKtq9

Markel UK hires broker divisional director

Provider promotes Nic Brown to the newly created role in push to develop broker relationships. from Insurer - insuranceage.co.uk https://ift.tt/cQC29KIke

Opinion: LV's Mike Crane considers the future for personal lines

LV Broker’s Mike Crane reflects on the impact of consolidation, pricing practices, trust and asks if brokers are well placed to take advantage of the developments from Insurer - insuranceage.co.uk https://ift.tt/FAftnDKJd

Meet the MGA: Arc Legal

Peter Harvey, deputy chief executive of Arc Legal, tell Insurance Age about the bespoke products the MGA offers brokers and how 2022 might shape up for the market from Insurer - insuranceage.co.uk https://ift.tt/EgQvFD9Jk

Brokers urged to engage with Lords' Committee's insurance market regulation inquiry

Biba confirms it will be will be putting in a response to the consultation which closes on 11 February as compliance experts discuss whether the inquiry could have an effect on the regional broker market. from Insurer - insuranceage.co.uk https://ift.tt/arK7bCBnY

Ofsted finds Davies' apprenticeship programme "requires improvement"

Government body says "too many" insurance apprentices do not complete their end-point assessments as Davies explains it is working to redesign the standard in response to apprentices leaving as soon as they have achieved their CII qualifications. from Insurer - insuranceage.co.uk https://ift.tt/DSNdGaTZp

Profile: Phil Bayles' liberation - from Aviva to Ardonagh

Ardonagh Advisory’s chief commercial officer reflects on 18 years at Aviva, finding freedom at the ‘dynamic’ Ardonagh, and his plans for the future. from Insurer - insuranceage.co.uk https://ift.tt/t5BxKAaJc

Aqueous increases capacity in professional indemnity push

The managing general agent has increased capacity under plans to expand its foothold across the UK professional indemnity insurance market in 2022. from Insurer - insuranceage.co.uk https://ift.tt/fxHBhe3bv

People moves: 31 January- 4 February 2022

Keep up to date with the latest industry moves from the insurance space. from Insurer - insuranceage.co.uk https://ift.tt/M7tTzLGb2